Swiss National Bank Has $10.23 Million Position in Tyler Technologies, Inc. (TYL)
Swiss National Bank boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,258 shares of the technology company’s stock after purchasing an additional 700 shares during the period. Swiss National Bank owned about 0.16% of Tyler Technologies worth $10,234,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in Tyler Technologies in the second quarter valued at about $209,000. Lakeview Capital Partners LLC purchased a new position in Tyler Technologies in the second quarter valued at about $211,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after purchasing an additional 317 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Tyler Technologies in the first quarter valued at about $242,000. Finally, Sheets Smith Wealth Management purchased a new position in Tyler Technologies in the second quarter valued at about $296,000. 91.00% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. B. Riley reissued a “buy” rating and issued a $184.00 price target on shares of Tyler Technologies in a report on Wednesday, August 2nd. Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. BidaskClub raised Tyler Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Maxim Group set a $197.00 price target on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 price target on shares of Tyler Technologies in a report on Sunday, August 27th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Tyler Technologies has a consensus rating of “Buy” and an average target price of $189.00.
Shares of Tyler Technologies, Inc. (NYSE TYL) opened at 171.75 on Wednesday. Tyler Technologies, Inc. has a 52 week low of $139.61 and a 52 week high of $182.49. The firm has a market cap of $6.41 billion, a PE ratio of 51.45 and a beta of 0.95. The firm’s 50-day moving average price is $171.24 and its 200 day moving average price is $166.07.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03). Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The firm had revenue of $209.12 million for the quarter, compared to analyst estimates of $210.67 million. During the same period last year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post $3.87 EPS for the current year.
In related news, Director Larry D. Leinweber sold 36,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $171.23, for a total transaction of $6,164,280.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian K. Miller sold 1,848 shares of Tyler Technologies stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $172.58, for a total value of $318,927.84. Following the sale, the vice president now directly owns 52,657 shares in the company, valued at $9,087,545.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,733 shares of company stock worth $42,041,794. 10.30% of the stock is owned by company insiders.
About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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